Description: The Joint Actuarial Committee of the American Life Convention and the Life Insurance Association of America has been considering changes needed in the Standard Nonforfeiture and Standard Valuation laws in light of the high level of interest rates currently available and expected for future years.

Description: This dialogue discusses the history and purpose of section 811(a) and its historic role in the computation of life insurance company taxable income and, in particular, reserves.

Description: The current life insurance development with a focus on the latest regulation change from actuarial perspective and its possible impact to the Vietnam industry.

Description: Performance measurement is not the primary purpose of either GAAP or statutory accounting. This article discusses alternative methods of reporting used by life insurance companies to better measure financial performance.

Description: The latest draft ORSA Guidance Manual was released on Oct. 14, 2011. An overview of the requirements from a qualitative, quantitative and governance perspective was provided in the December edition of the Financial Reporter. Several trade associations and com- panies commented on the draft.

Description: This article summarizes recent proposed changes to the Valuation Manual that might take effect for 2019 valuations for PBR business.

Description: This is a summary of the NAIC meeting held in September of 2008.

Description: An update on the principle-based reserves (PBR) process and possible valuation manual adoption, with recommendations to actuaries on how to prepare.

Description: This article summarizes VM-31 updates to the 2018 and 2019 Valuation Manuals, and considerations for PBR Reports based on findings from the 2017 submissions.

Description: In this paper, Chapter VII of the 1987 Valuation Actuary Handbook, the author, an attorney with the American Academy of Actuaries, discusses the valuation actuary concept, starting with the current regulatory system. The potential legal implications, including personal liability, are explored. The author notes that “perhaps most significant is the fact that by increasing the scope of the valuation actuary’s duties, the nature and scope of potential professional liability also increase.”